El Salvador President Meets Binance CEO: Not About Bitcoin Bond

bitcoin laser eyes el salvador

Last updated March 25, 2022

El Salvador’s President Claimed Reuters Is Spreading Fud Over “Bitcoin Bond Delay”.

El Salvador is the first and only country in the world where Bitcoin is legal tender and where citizens are also not required to pay taxes on their profits on Bitcoin investments. Since the fourth quarter of 2021, the government of El Salvador has been working on its $1 billion Bitcoin bond to allow citizens to invest in supporting Bitcoin initiatives with the government-backed bonds more likely to be in traditional bonds.

On March 24, President of El Salvador, Nayib Bukele, quoted a tweet from bitcoin news media Bitcoin magazine about the slowdown in Bitcoin bonds and suggested that these media not distribute FUDs on Bitcoin Bond or El Salvador.

However, the tweet about “Delay in El Salvador’s Bitcoin Bond” by Bitcoinmagazine was started by Reuters, but Nayib targeted both news outlets.

Nayib Bukele’s tweet can be seen below, but the tweet quoted has been removed (or may have disappeared) by Bitcoin magazine.

Nayib also confirmed that he will meet Changpeng Zhao, chief executive officer of Binance Exchange the next day (today).

The president of El Salvador confirmed that they will not discuss the Bitcoin bond, but they can certainly discuss whether the CEO of Binance will show interest in buying some Bitcoin bonds.

“I have a meeting with @cz_binance tomorrow to discuss OTHER issues, not the volcano bonds… Unless, of course, he wants to buy some.”

However, the meeting of Nayib Bukele and the CEO of Binance is not related to the Bitcoin bond, yet both personalities here are legendary at their position. On the one hand, Nayib Bukele is the first person in the world to introduce Bitcoin as a currency nationally, on the other hand, Changpeng Zhao is the CEO and founder of the top-ranked crypto exchange worldwide.

Delay in Bitcoin bond issuance

There is no doubt that the Bitcoin bond is slowing down, but the reasons behind this slowdown are many because El Salvador doesn’t want to do anything blindly, instead they want to operate according to the nation’s traditional rules and system.

Last week, Alejandro Zelaya, El Salvador’s finance minister, shared some details about the Bitcoin bond, saying that the Bitcoin bond release was planned for mid-March, but it is being postponed due to geopolitical instability (Russia vs Ukraine war) as the main reason behind the delay. Now it is likely to be introduced in September this year.

Also Read: US Regulators May Approve Bitcoin Spot ETFs Mid Next Year

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